Section 3. (a) If the Financial Crimes Enforcement Network of the United States Department of the Treasury at any time no longer permits a law enforcement agency including, but not limited to, the attorney general, from entering into a memorandum of understanding to obtain reports required by the Currency and Foreign Transactions Act, set forth in 31 U.S.C. § 5311 to 5315, 31 C.F.R. chapter X, on a case-by-case basis, a financial institution, upon the request of the attorney general, shall file with the attorney general reports required by said Currency and Foreign Transactions Act, set forth in 31 U.S.C. § 5311 to 5315, 31 CFR chapter X.

(b) A financial institution, or an officer, employee or agent of a financial institution that provides any reports or information under this section shall not be liable to its customer, to a state or local agency or to any person for any loss or damage caused in whole or in part by the making, filing or governmental use of the report, or any information contained in the report. Nothing in this chapter shall give rise to a private cause of action for relief or damages. Nothing in this subsection shall preclude a financial institution, in its discretion, from instituting contact with, and then communicating with and disclosing customer financial records to appropriate federal, state or local law enforcement agencies if the financial institution has reason to suspect that the records or information demonstrate that the customer has violated this chapter.

(c) Any report, record or information obtained by the attorney general under this section shall not be a public record under clause Twenty-sixth of section 7 of chapter 4 or section 10 of chapter 66 and shall not be subject to disclosure, except to other state and federal law enforcement agencies.